iHeartMedia Q4 Sales $1.07B Beat $1.04B Estimate
Portfolio Pulse from Benzinga Newsdesk
iHeartMedia (IHRT) reported Q4 sales of $1.07 billion, surpassing the analyst consensus estimate of $1.04 billion by 2.58%. However, this represents a 5.25% decrease from the $1.13 billion sales reported in the same period last year.
February 29, 2024 | 1:04 pm
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iHeartMedia reported higher than expected Q4 sales of $1.07 billion, exceeding estimates by 2.58%, but saw a 5.25% decrease year-over-year.
The positive short-term impact on IHRT's stock price is likely due to the company's ability to surpass analyst sales estimates for Q4, indicating better-than-expected financial performance. However, the year-over-year decrease in sales might temper investor enthusiasm, making the overall positive impact more moderate.
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RELEVANCE 100